Texas power grid operator fires CEO after winter storm chaos

Houston (AFP) – The polar vortex storm that plunged Texas into chaos continues to reverberate through the state’s power grid operator, which fired its CEO on the same day Congress launched an investigation into its failures. The staggering cost of last month’s storm, which killed dozens, left millions without electricity and water, and caused billions of dollars in damage has prompted ratings agencies to downgrade the debt of Texas’s electric utilities, at least one of which has already filed for bankruptcy. The board of the Electric Reliability Council of Texas (ERCOT) has become a prime targ…

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